Question
Alpha Company provided the following data concerning its income statement: sales, $865,000; purchases, $398,000; beginning inventory, $245,000; ending inventory, $297,000; operating expenses, $102,000; freight-in, $5,000;
Alpha Company provided the following data concerning its income statement: sales, $865,000; purchases, $398,000; beginning inventory, $245,000; ending inventory, $297,000; operating expenses, $102,000; freight-in, $5,000; sales discounts, $21,000; purchases discounts, $15,000; sales returns & allowances, $140,000; and purchases returns & allowances, $35,000.How much is net income?
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Management Accounting
Authors: Late RC Sekhar, AV Rajagopalan
1st Edition
195683609, 978-0195683608
